EdgePoint Investment Group Inc. Has $452.94 Million Stock Position in Revvity, Inc. (NYSE:RVTY)

EdgePoint Investment Group Inc. raised its position in shares of Revvity, Inc. (NYSE:RVTY - Free Report) by 51.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,058,231 shares of the company's stock after purchasing an additional 1,372,456 shares during the period. Revvity accounts for approximately 3.6% of EdgePoint Investment Group Inc.'s holdings, making the stock its 15th biggest position. EdgePoint Investment Group Inc. owned approximately 3.33% of Revvity worth $452,939,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Principal Financial Group Inc. raised its holdings in shares of Revvity by 3.1% in the 3rd quarter. Principal Financial Group Inc. now owns 141,871 shares of the company's stock worth $18,124,000 after purchasing an additional 4,263 shares in the last quarter. Nordea Investment Management AB grew its holdings in shares of Revvity by 8.0% during the 4th quarter. Nordea Investment Management AB now owns 9,681 shares of the company's stock valued at $1,084,000 after acquiring an additional 719 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Revvity by 2.4% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 4,214 shares of the company's stock worth $470,000 after purchasing an additional 100 shares in the last quarter. Czech National Bank boosted its holdings in Revvity by 5.0% in the fourth quarter. Czech National Bank now owns 26,388 shares of the company's stock worth $2,945,000 after purchasing an additional 1,263 shares in the last quarter. Finally, Oak Thistle LLC bought a new stake in Revvity in the fourth quarter worth $317,000. 86.65% of the stock is owned by institutional investors and hedge funds.

Revvity Stock Down 1.8%

Shares of NYSE:RVTY traded down $1.68 during midday trading on Friday, reaching $91.22. 1,330,339 shares of the company were exchanged, compared to its average volume of 938,745. Revvity, Inc. has a fifty-two week low of $88.53 and a fifty-two week high of $129.50. The company has a quick ratio of 3.03, a current ratio of 3.60 and a debt-to-equity ratio of 0.41. The stock has a fifty day simple moving average of $100.83 and a two-hundred day simple moving average of $111.09. The firm has a market cap of $10.75 billion, a PE ratio of 41.28, a P/E/G ratio of 3.82 and a beta of 1.02.

Revvity (NYSE:RVTY - Get Free Report) last issued its quarterly earnings results on Monday, April 28th. The company reported $1.01 EPS for the quarter, topping the consensus estimate of $0.96 by $0.05. Revvity had a net margin of 9.81% and a return on equity of 7.68%. The firm had revenue of $664.76 million for the quarter, compared to analysts' expectations of $662.30 million. During the same period in the previous year, the firm posted $0.98 EPS. The company's revenue for the quarter was up 2.3% on a year-over-year basis. As a group, sell-side analysts forecast that Revvity, Inc. will post 4.94 earnings per share for the current year.

Revvity Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Friday, July 18th will be given a dividend of $0.07 per share. The ex-dividend date is Friday, July 18th. This represents a $0.28 annualized dividend and a yield of 0.31%. Revvity's dividend payout ratio (DPR) is presently 11.91%.

Wall Street Analysts Forecast Growth

RVTY has been the subject of a number of recent analyst reports. Barclays decreased their price target on shares of Revvity from $140.00 to $110.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. UBS Group raised shares of Revvity from a "neutral" rating to a "buy" rating and dropped their price objective for the stock from $145.00 to $115.00 in a report on Thursday, May 1st. Robert W. Baird lowered their price target on shares of Revvity from $127.00 to $125.00 and set an "outperform" rating for the company in a report on Tuesday, April 29th. Wells Fargo & Company lowered their price target on shares of Revvity from $130.00 to $102.00 and set an "equal weight" rating for the company in a report on Thursday, April 17th. Finally, The Goldman Sachs Group reduced their price objective on shares of Revvity from $140.00 to $125.00 and set a "buy" rating on the stock in a research note on Tuesday, April 29th. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $125.64.

About Revvity

Revvity, Inc provides health sciences solutions, technologies, and services in the Americas, Europe, and Asia, and internationally. The Life Sciences segment provides instruments, reagents, informatics, software, subscriptions, detection, imaging technologies, warranties, training, and services. Its Diagnostics segment provides instruments, reagents, assay platforms, and software products for the early detection of genetic disorders, such as pregnancy and early childhood, as well as infectious disease testing in the diagnostics market.